retention rate

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      Retention rate is a statistical measurement of the proportion of people that remain involved with a group from one time period to another.
      The concept is used in many contexts, including marketing, investment, education, employee management, research, and clinical trials. The exact definition depends on the context. As a general rule, high retention corresponds to a positive outcome.
      In marketing, retention rate count customers and their activity irrespective transactions they make.

      In a survey of nearly 200 senior marketing managers, 63 percent responded that they found the "retention rate" metric very useful.


      Purpose


      The purpose of the "retention rate" metric in a marketing atmosphere is to monitor firm performance in attracting and retaining customers. "Only recently have most marketers worried about developing metrics that focus on individual customers. In order to begin to think about managing individual customer relationships, the firm must first be able to count its customers. Although consistency in counting customers is probably more important than formulating a precise definition, a definition is needed nonetheless. In particular, we think the definition of and the counting of customers will be different in contractual versus non-contractual situations." Since there are multiple definitions of retention rates this could cause issues with interpreting retention rates in practice.
      In the workplace arena, the purpose of the retention rate is to assist organizations with deciding when to take action in order to keep employees happy and motivated. According to a survey by CNN Money, the top 100 best companies to work for had less than a 3% turnover rate during a 12-month period.
      Retention rate may also refer to colleges. According to the FAFSA, the retention rate is the percentage of a school’s first-time, first-year undergraduate students who continue at that school the next year. For example, a student who studies full-time in the fall semester and keeps on studying in the program in the next fall semester is counted in this rate.


      Contracts


      "Retention applies to contractual situations in which customers are either retained or not. Customers either renew their magazine subscriptions or let them run out. Customers maintain a current account with a bank until they close it. Renters pay rent until they move out. These are examples of pure customer retention situations where customers are either retained or considered lost for good. In these situations, firms pay close attention to retention rates."

      Retention Rate: The ratio of the number of customers retained to the number at risk.


      Workplace


      Retention in the workplace refers to “the percentage of employees who were employed at the beginning of a period, and remain with the company at the end of the period”. For example, in January 2010, Company A had 500 employees. After one year, 200 of the 500 employees were still working for the company. The retention rate is 200/500 = 40%.


      See also


      Employee retention
      Turnover (employment)
      University student retention


      Methodologies


      No retention rate methodologies have been independently audited by the Marketing Accountability Standards Board (MASB) according to MMAP (Marketing Metric Audit Protocol).


      References

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    How to Calculate Retention Rate for Employees: With Examples - Salary.com

    Jan 24, 2025 · To calculate the retention rate, subtract the 5 employees who left from the 120, leaving 115 employees who stayed. For the calculation: Retention rate = (115 ÷ 120) x 100 = 95.83%. Here, Company B has a retention rate of 95.83% for the year, which means most employees chose to stay.

    Calculating Retention Rate (With 3 Examples) - Indeed

    Oct 31, 2024 · Your employee retention rate can give you insight into the health of your company and help you develop effective strategies for employee satisfaction. Use the information in this guide to understand the importance of employee retention and to calculate your retention rate.

    Retention Rate | How to Calculate & Examples - ADP

    Retention rate measures a company’s ability to retain its workforce. It’s the inverse of turnover, which is the rate at which employees leave their jobs. Like engagement rates, retention rates reflect how people feel about an organization, their work environments and their roles.

    How to Calculate Your Employee Retention Rate - Quantum …

    Dec 9, 2021 · Employee retention rate is defined as the percentage of your workforce that stays at your organization. Employee turnover rate is the percentage of employees that leave your organization. Leaders should strive for a high retention rate and a …

    In fact, the retention rate, sometimes referred to as the “stability index,” measures the retention of particular employees over a specified period of time and complements the turnover rate...

    Retention Rate Calculator & Formula Online Calculator Ultra

    Oct 4, 2024 · Retention rate is an important metric for understanding how well a company retains its employees over a specific period of time. High retention rates are often indicative of effective management practices, employee satisfaction, and a positive work environment.

    Customer retention rate: Meaning, formula, how to calculate

    May 29, 2023 · Retention is a crucial metric that influences a company’s growth and profitability. In the simplest terms, your retention rate shows how many customers continue to use your product or service over a specified period.

    What is an Employee Retention Rate and How to Calculate It

    Jan 17, 2023 · • Employee retention rate is a key HR metric that measures the number of employees who stayed employed at a company over a period of time. • Calculating employee retention rate involves counting the number of employees at the beginning and end of a period and using a simple formula.

    Retention rate - Wikipedia

    Retention rate is a statistical measurement of the proportion of people that remain involved with a group from one time period to another. The concept is used in many contexts, including marketing, investment, education, employee management, research, and clinical trials. The exact definition depends on the context.

    Employee retention rate & its business impact (with calculator)

    What is the employee retention rate? The employee retention rate is a metric that tells you how many employees have chosen to stay at your organization during a set time period. It indicates your organization’s ability to retain a stable workforce, and …